Multinational gold producer Northern Star Resources (ASX:NST) will form a joint venture (JV) with PolarX (ASX:PXX) for the Alaska Range Project, 160 miles (257.5 km) northeast of Anchorage, in a deal wherein Northern Star will increase its 15% stake in PolarX.
Northern Star’s earn-in contribution was previously required by 31 March. However, the deadline has been extended to 30 April. The total transaction value could be as high as US$6.9 million (A$10.04 million).
Each JV partner has approved a 2026 exploration program and budget, which includes surplus funds that are rolled over from the previous year.
An initial 10,500 metres of diamond will mostly be drilled at the nearby Caribou Dome Copper Project.
PolarX notes that the final assay results from exploration during the 2025 season will be released shortly.
Northern Star Resources is a gold producer with assets mostly in Western Australia and the US.
PolarX is a mineral explorer and developer with rapidly growing high-grade copper, gold and silver projects across America.
Write to Richard Szabo at Mining.com.au
Images: PolarX
